5 Best High Short Interest Stocks With Highest Upside Potential

2. QXO Inc. (NYSE:QXO)

Average Upside Potential: 78.47%

QXO Inc. (NYSE:QXO) is one of the best high short interest stocks with highest upside potential. On May 29, QXO initiated cash tender offers and consent solicitations to purchase all outstanding 4.125% Senior Notes due 2032 and 5.625% Senior Notes due 2034 issued by TopBuild Corp., in connection with QXO’s pending acquisition of the company.

The tender offer consideration is $961.25 per $1,000 principal amount, with an additional $50.00 early tender payment for notes tendered by the early deadline, totaling $1,011.25 per note. Concurrent with the tender offers, QXO Inc. (NYSE:QXO) is soliciting consents to amend the indentures governing both series of notes.

The proposed amendments aim to eliminate the requirement for a “Change of Control Offer” triggered by the acquisition, remove substantially all restrictive covenants, and eliminate most events of default, excluding those related to failure to pay principal or interest. The terms and conditions for these transactions are detailed in an Offer to Purchase and Consent Solicitation Statement dated May 29.

QXO Inc. (NYSE:QXO) operates as a distributor of waterproofing, roofing, and complementary building products across Canada and the US. It offers modified roofing, PVC roofing, commercial roofing & siding products, built-up roofing, low-slope metal roofing, TPO roofing, and others.